Windsor Telecom has today announced the acquisition of Connexus Networks and Connexus Technology based in Gloucester. An ISO-accredited business, Connexus supports around 400 customers providing a broad range of Managed IT & Communications services.
Over the past three years ThinCats has supported Windsor with a tailored and flexible debt facility. This funding agreement has been further increased and extended, supporting Windsor’s continued growth ambitions.
Pete Tomlinson, CEO of Windsor Telecom said ” We are really excited about this next phase of Windsor’s growth plans; it has been a busy three years with multiple acquisitions and a broad business transformation. The acquisition of Connexus is a key part of our future strategy. We look forward to welcoming the Connexus team to the Windsor organisation. A massive thank you to Altenburg Advisory and ThinCats, who throughout this journey, have been supportive and diligent partners for us.”
Dave Sherrington, Regional Head of Sales and Private Equity of ThinCats added “We love backing ambitious and growing businesses like Windsor and are delighted to continue our support for them with this latest acquisition. It’s been a pleasure working with Pete and his expert team to structure a facility that supports their current and future needs. Making smart acquisitions is exactly what this type of funding is designed for, and we look forward to seeing them go from strength to strength.”
As debt advisors to Windsor, Altenburg Advisory has supported the business since the end of 2019, and played a pivotal role in structuring and arranging the enhanced facilities. Dan Barrett, Partner at Altenburg Advisory said “We have really enjoyed being part of Windsor’s growth story, and this enhanced funding package from ThinCats will enable Pete (CEO) and David (CFO) and their team to continue their exciting growth story”
Gulam Patel, Managing Director at Connexus added, “Windsor Telecom is a business very much like Connexus. It really cares about its customers and colleagues, and this is one of the main reasons we have worked with the Windsor team on the merging of the two businesses. I am confident that this change will benefit the Connexus business and customers with Windsor bringing a scaled team and complimentary product set.”
Industry specialist, Evolution Capital, is delighted to have advised the shareholders of Connexus on its sale to Windsor. Duncan Gregory, Transaction Services Director, who managed the project commented: “We are delighted to have achieved this outstanding outcome for our client. Connexus generated a great deal of interest through the process, and we are incredibly pleased with the results our client has realised. Having first worked with the shareholders some years prior, providing them with essential preparation advice, it has been a pleasure assisting them on the transactional phase and final leg of the Connexus journey. We would like to wish both the exiting shareholders, and those remaining as part of the now extended Windsor family, our very best for their future endeavours.
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